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9. INCOME TAXES
Income (loss) before provision (benefit) for income taxes consisted of:
Fiscal Year
Ended March 31, Transition Years Ended December 31,
(In thousands) 2004 2003 2002 2001
United States $ 46,115 $ (5,871) $ 16,471 $ 52,569
Foreign 9,121 (5,105) 3,284 4,147
$ 55,236 $ (10,976) $ 19,755 $ 56,716
The provision (benefit) for income taxes consists of the following:
Fiscal Year
Ended March 31, Transition Years Ended December 31,
(In thousands) 2004 2003 2002 2001
CURRENT
Federal $ 11,112 $ (139) $ 6,742 $ 8,000
State 2,716 - 814 434
Foreign 4,495 (1,960) 1,765 1,231
18,323 (2,099) 9,321 9,665
DEFERRED
Federal 2,775 (1,295) (1,940 ) 9,223
State 319 (125) (194 ) 1,524
Foreign (2,020) 229 (426) 291
1,074 (1,191) (2,560 ) 11,038
Provision (benefit) for income taxes $ 19,397 $ (3,290) $ 6,761 $ 20,703
A reconciliation of the provision (benefit) for income taxes at the federal statutory rate to the provision (benefit) recorded in the accompanying financial
statements is as follows:
Fiscal Year
Ended March 31, Transition Years Ended December 31,
(In thousands) 2004 2003 2002 2001
Federal provision (benefit) at statutory rate 35.0% (35.0)% 35.0% 35.0%
State taxes (net of Federal benefit) 3.6 (1.1) 2.0 2.2
Other than temporary impairment in Yuke’s Co., Ltd. —5.9 — —
Rate differences in foreign taxes and other, net (3.5) — (2.8 ) (0.7)
35.1% (30.0)% 34.2% 36.5%